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The 24th meeting of the Azerbaijan–Russia Intergovernmental Commission on Economic Cooperation was held at the Zangilan Convention Center on April 16.

Axar.az informs that the meeting, co-chaired by Azerbaijan’s Deputy Prime Minister Shahin Mustafayev and Russian Deputy Prime Minister Alexei Overchuk, brought together senior officials and authorized representatives of relevant state institutions from both countries.

Addressing the meeting, Shahin Mustafayev highlighted the large-scale reconstruction efforts underway in the liberated territories, where modern infrastructure is being rebuilt. He reaffirmed Azerbaijan’s commitment to good-neighborly and mutually respectful relations with Russia.

Bilateral relations between Azerbaijan and Russia continue to strengthen, supported by close political dialogue between Presidents Ilham Aliyev and Vladimir Putin. Important milestones include the 2022 Declaration on Allied Interaction, as well as recent high-level meetings in Dushanbe and Baku.

Mustafayev emphasized Azerbaijan’s contribution to regional stability and humanitarian cooperation, noting the country’s support in facilitating the evacuation of Russian citizens from Iran, as well as ensuring the transit of Russian humanitarian aid. He also stressed that the North–South International Transport Corridor has demonstrated its reliability and competitiveness by operating smoothly even under complex geopolitical conditions.

Touching upon economic cooperation, the Deputy Prime Minister noted that Azerbaijan has lifted restrictions on the transit of goods to Armenia through its territory from various directions, including Russia, as a goodwill gesture. Approximately 26,000 tons of cargo—mainly wheat and fertilizers—have already been transported via Azerbaijan. He added that the 2024–2026 roadmap is being successfully implemented and that Russia remains a key trade partner.

Agricultural trade was highlighted as a significant component of bilateral economic relations, with the Russian market serving as one of the main destinations for Azerbaijan’s non-oil exports. Exports to Russia exceeded $837 million, including fruit and vegetable supplies, which increased by 31% to $696 million, while imports surpassed $832 million.

The Deputy Prime Minister noted that bilateral trade turnover exceeded $4.9 billion in 2025 and reached approximately $750 million in the first quarter of this year.

Investment cooperation is also showing positive growth. Russian investments in Azerbaijan exceed $10.5 billion, including $2.9 billion in the non-oil sector, with more than 1,400 Russian companies operating in the country. Azerbaijani investments in Russia are also expanding, particularly in sanatorium, industrial, and manufacturing projects.

Mustafayev underlined the strategic and diversified nature of bilateral cooperation and encouraged Russian companies to actively participate in investment projects within the special tax regime in Azerbaijan’s liberated territories.

He noted that Azerbaijan provides exemptions from profit (income), property, land, and simplified taxes, as well as VAT and customs duties on imports, for a period of 10 years in these territories. He also pointed to successful Russian investment projects and emphasized the importance of expanding cooperation in the production of construction materials and pharmaceuticals.

Transport and logistics were described as priority areas of cooperation. Mustafayev stressed the strategic importance of the North–South International Transport Corridor, noting that modernization and digitalization will increase cargo volumes. Transit through Azerbaijan is expected to reach at least 5 million tons by 2028 and 15 million tons at a later stage.

He also welcomed the construction of a KAMAZ service center in the Araz Valley Economic Zone and a kindergarten in Mahruzlu village by the Astrakhan regional administration, expressing gratitude to the Russian side for these initiatives.

In his remarks, Russian Deputy Prime Minister Alexei Overchuk described Azerbaijan–Russia cooperation as strategic, highlighting transport, logistics, industry, and agriculture as key priorities. He emphasized the importance of the North–South Corridor for trade and praised the reconstruction efforts in Zangilan, noting that they create new opportunities for joint projects.

During the meeting, the sides discussed the current state and future prospects of cooperation in trade, investment, finance, transport, agriculture, energy, tourism, and humanitarian spheres, stressing the importance of coordinated efforts on issues of mutual interest.

Overchuk also expressed gratitude for Azerbaijan’s assistance in facilitating the transit of humanitarian aid sent by the Russian Federation to Iran through Azerbaijani territory.

In conclusion, the sides emphasized that Azerbaijan–Russia relations will continue to develop based on mutual respect, trust, and partnership, with consistent implementation of the agreements reached.

The meeting concluded with the signing of the protocol of the 24th session of the Intergovernmental Commission on Economic Cooperation between the Republic of Azerbaijan and the Russian Federation by Shahin Mustafayev and Alexei Overchuk.

As part of the visit to Zangilan, participants toured the city and the village of Aghali, where they were briefed on the construction of the Aghband road bridge, the Horadiz–Aghband railway project, and the infrastructure of the border checkpoint. It was noted that the Horadiz–Jabrayil–Zangilan–Aghband highway forms a key component of a new branch of the North–South International Transport Corridor, while the Horadiz–Aghband railway will serve as an important link in the Zangezur corridor.